I’m considering these FTSE 100 shares for November

After volatility in the stock market, this Fool is looking for FTSE 100 shares he can buy for cheap. Here, he explores two he’s watching.

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A myriad of FTSE 100 shares took a wobble this week as constituents of the UK leading index continued to release their Q3 results.

At 7,292.7 points, the short-term performance of the Footsie doesn’t make the greatest reading. And despite a near 4% rise in the last 12 months, the Index has fallen around 7% in the last six months. This week, over 1% has been shaved off its price.

Regardless, I’m not too worried. Instead, I’m thinking that across the upcoming weeks, there could be opportunities to snap up some blue-chip stocks for beatdown prices.

Here are two stocks I’m considering.


As I write, the NatWest (LSE:NWG) share price has plunged a whopping 12%, largely due to the bank scaling down profit outlooks and further attention surrounding the Nigel Farage scandal.

In its Q3 results, the firm cut key profit margin guidance for the year. On top of that, its net interest margin, a measure of lending profitability, also fell. With it now forecasted to come in “greater than 3%” for 2023, compared to the 3.15% previously touted, it seems that investors may be spooked.

However, like the Fool I am, I’m wondering if this could be a time for me to snap up a bargain.

With the stock now sitting around the 185p range, this fall means it now trades on a price-to-earnings ratio of just 4.6. It also offers a dividend yield of 8.6%.

In terms of value for money, that seems like a solid option. What’s more, with low credit losses and impairment provisions, as well as forecasted return on tangible equity in line with competitors, maybe all isn’t as bad as it seems.


Sticking with the financial theme, I’m also looking at Lloyds (LSE: LLOY). The last five years have been torrid for shareholders of the Black Horse Bank. And this has continued in recent times, with the stock down over 5% in the last year.

I’m bullish on Lloyds. And with its share price now sitting at the 40p mark, I think it could be a smart time to swoop in.

I like the moves the business is making for the long term. This comes in the form of a new strategy it implemented back in February of last year. And as part of its £3bn plan, it aims to diversify revenue streams.

I’m always on the lookout for passive income opportunities. And with a yield of 6.2% covered around three times by earnings, Lloyds could be a smart move.

I’d expect its share price to continue suffering in the weeks and months to come as uncertainty continues to linger around inflation and interest rates. With it also announcing in its latest update that house prices will continue to fall until 2025, this could impact the firm.

That said, I think it’s well-positioned to prosper in the long run. With its income opportunity, I like the look of Lloyds.

My move

Despite its fall, I won’t be buying NatWest shares just yet. I think there’s too much volatility surrounding the stock right now for me to buy in. But in the weeks ahead, I’ll be tracking its movements very closely. As for Lloyds, I’m looking to top up my holdings with any spare cash.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Charlie Keough has positions in Lloyds Banking Group Plc. The Motley Fool UK has recommended Lloyds Banking Group Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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